Fine wines/champagne and spirits is anticipated to continue witnessing strong and steady growth in retail value (at constant 2024 prices) and retail volume terms. Premiumisation is expected to remain the main driving factor behind the category’s growth as the number of affluent consumers in South Africa continues to grow.
Following the COVID-19 lockdowns, and the cost-of-living crisis that followed in South Africa, an increasing number of consumers opted for off-trade consumption. While the pandemic was declared over in 2023 this trend persisted in 2024 and it is expected to continue having an effect on the market over the forecast period.
Following trends being seen across the market, it is expected that sustainability concerns are also likely to have a growing influence on the production of fine wines/champagne and spirits over the forecast period. For example, it is expected that a growing number of producers will invest in the development of more eco-friendly packaging, as well as products made with organic and local ingredients.
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Understand the latest market trends and future growth opportunities for the Fine Wines/Champagne and Spirits industry in South Africa with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Fine Wines/Champagne and Spirits industry in South Africa, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Fine Wines/Champagne and Spirits
This is the aggregation of fine wines and luxury spirits.
See All of Our DefinitionsThis report originates from Passport, our Fine Wines/Champagne and Spirits research and analysis database.
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